Koram Bank has mandated Goldman Sachs and Salomon Smith Barney to lead its forthcoming $250 million GDR. The deal will hope to capitalize on thriving interest in the Korean market from foreign fund managers.
Koram is one of Korea's best managed banks, with a good retail banking strategy, 95% provisioning of bad loans, and low exposure to chaebol. It is also foreign-controlled, with a consortium of the Carlyle Group and JPMorgan Corsair owning 40.5% of the bank, and controlling seven out of the 13 board seats.
It comes as little surprise that Salomon should be mandated for the GDR given it advised the Carlyle consortium on its original investment. Goldman also advised on...
